still, the city and oracle went ahead with race plans. others were relieved; they saw the arrangement with ellison as a giveaway of city property. and still others feared environmental consequences of too many visitors and non- recreational uses of waterfront land. then there was the matter of boats: originally, organizers thought up to 15 72-foot boats could compete. but they cost millions, and in the midst of a worldwide recession, only four of them, plus elison's, decided to take part. nobody is suggesting the race will be a bust, but the prospects for the city and the cup itself are not as bright as they had been. >> the event is going to be bigger and better than it has been in a generation, however, in other cities in the past where the america's cup has taken place, there has been a huge amount of property development along the waterfront, kind of like, say an olympics. that is not going to happen in san francisco. still, for sailing fans and some who are not. the prospects of international competition and just the chance to watch